The rupee fell 75 paise to close weaker at 52.63 as the euro weakened against the US currency and dollar buying by oil importers dented the local unit.

“The rupee closed lower as the euro lost against the dollar and there was definite buying by oil importers,” a chief dealer of a public sector bank said.

There were also likely outflows, which impacted the rupee and the domestic equity markets, he added.

The domestic unit opened weak at 52.12 against the dollar as globally, risks for a faster economic recovery persisted. It had closed at 51.88 on Friday.

On one hand, a better-than-expected US employment data increased the traders' confidence in the American currency.

On the other hand, the World Bank has cut its economic growth forecast for the East Asia and Pacific region. It has also cautioned that growth in China, might slow further and that the slowdown could last longer.

Intraday, the rupee moved between a high and low of 52.06 and 52.64, respectively.

Call Rates, G-Secs

The interbank call rates closed a full percentage point higher at 8.10 per cent. The call rates had closed at 7.10 per cent on Friday.

The 8.15 per cent government security, maturing in 2022, closed higher at Rs 99.99 (yield:8.14 per cent). It had closed at Rs 99.92 (yield:8.16 per cent) on Friday

satyanarayan.iyer@thehindu.co.in

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